Gotham Asset Management LLC Acquires 3,366 Shares of Ubiquiti Inc. $UI

Key Points

• Gotham Asset Management LLC increased its holdings in Ubiquiti Inc. by 10.4%, owning approximately $11.06 million in stock, representing about 0.06% of the company.
• Ubiquiti recently reported earnings of $3.54 per share, significantly exceeding analysts' expectations of $2.23, and had revenues of $759.15 million for the quarter.
• The company has announced a quarterly dividend of $0.80 per share, reflecting an increase from its previous dividend of $0.60, with a yield of 0.6%.

Gotham Asset Management LLC raised its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,662 shares of the company's stock after buying an additional 3,366 shares during the quarter. Gotham Asset Management LLC owned 0.06% of Ubiquiti worth $11,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in UI. Northern Trust Corp lifted its position in Ubiquiti by 54.2% during the 4th quarter. Northern Trust Corp now owns 25,476 shares of the company's stock worth $8,456,000 after buying an additional 8,955 shares in the last quarter. Jane Street Group LLC lifted its position in Ubiquiti by 826.2% during the 4th quarter. Jane Street Group LLC now owns 12,198 shares of the company's stock worth $4,049,000 after buying an additional 10,881 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Ubiquiti during the 4th quarter worth about $338,000. Ameriprise Financial Inc. raised its holdings in Ubiquiti by 98.9% during the 4th quarter. Ameriprise Financial Inc. now owns 19,828 shares of the company's stock worth $6,581,000 after purchasing an additional 9,858 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Ubiquiti during the 4th quarter worth about $484,000. Institutional investors and hedge funds own 4.00% of the company's stock.

Ubiquiti Trading Down 2.2%

Shares of UI stock traded down $13.52 on Friday, reaching $599.34. The company had a trading volume of 57,866 shares, compared to its average volume of 117,811. The stock has a market cap of $36.25 billion, a PE ratio of 51.14 and a beta of 1.42. The company has a 50-day moving average of $468.55 and a 200-day moving average of $392.32. Ubiquiti Inc. has a 12 month low of $201.26 and a 12 month high of $621.09.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $1.31. The company had revenue of $759.15 million during the quarter, compared to analysts' expectations of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same period in the prior year, the business posted $1.74 EPS. Sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. Ubiquiti's dividend payout ratio (DPR) is currently 27.19%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UI. Barclays boosted their price objective on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a report on Friday, August 22nd. BWS Financial boosted their price objective on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, UBS Group set a $600.00 price objective on Ubiquiti in a report on Monday, August 25th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $499.67.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.